Germany's tankless water heater market is estimated to grow significantly during the forecast period. Some of the major factors attributing to the tankless water heater market in the country include the growing demand for tankless water heating systems in the commercial and industrial sectors. The energy sector provides a substantial amount in the requirement of water heaters due to hot water applications in power plants, transfer stations and others. Energy requirement in the country is growing at an alarming rate due to the electrification of the economy. As the country aspires to become electrified in terms of transport, manufacturing and others, electricity consumption is surging. Therefore the growth in electricity consumption further raises the demand for energy-efficient and convenient water heating solutions in the commercial sector thus creating significant growth on the market.
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The Germany market for the tankless water heater is further classified on the basis of product type and application. Based on the product type, the market is further classified into an electric water heater and gas water heater. The electric water heater segment is projected to have significant growth in the Germany tankless water heater market. The growing demand for tankless electric water heater in the residential and commercial sectors due to convenience and cost-effectiveness is further projected to contribute to the growth of the segmental market. On the basis of application, the market is further segregated into residential and commercial. The residential application is projected to hold a considerable share in the Germany tankless water heater market.
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The companies which are contributing to the growth of the Germany tankless water heater market include A.O. Smith Corp., Bradford White Corp., Robert Bosch GmbH, Rinnai Corp., General Electric Co., Navien Inc., and others. Product launch, merger, and acquisition, collaborations with government, and technological advancements through which market players are considerably contributing to the market growth to stay competitive in the market.
Market Segmentation
Germany Tankless Water Heater Market by Product Type
• Electric Water Heater
Germany Tankless Water Heater Market by Application
• Residential
• Commercial
Company Profiles
• A.O. Smith Corp.
• ATC Electrical and Mechanical, Ltd.
• Bradford White Corp.
• General Electric Co.
• Navien Inc.
• NORITZ Corp.
• Robert Bosch GmbH
• Rheem Manufacturing Company, Inc.
• Rinnai Corp.
• Stiebel Eltron, Inc.
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